South African Revenue Service (SARS) Commissioner Edward Kieswetter has authorized a special year-long exemption to allow the importation of jet fuel, preventing a potential supply shortage at OR Tambo International Airport and other major airports over the busy December travel period. The exemption, effective from October 21, 2024, to October 20, 2025, comes after concerns were raised by the fuel industry about a looming shortage of jet fuel, or aviation
Author: Constance Makungu
Yapi Merkezi Secures $3 Billion Contract for Major Railway Project in Uganda
Turkish engineering firm Yapi Merkezi has won a $3 billion contract to construct a 272-kilometer railway line connecting Kampala to Malaba, a key Ugandan border point with Kenya, the country’s preferred route for port access. This project marks one of the most substantial international undertakings for a Turkish construction company. Perez Wamburu, coordinator of Uganda’s Standard Gauge Railway (SGR) project, shared that this agreement covers the first phase of a
Global Shipping Industry Faces Challenges with Ageing Fleet Amid Shipbuilding Boom
The global shipping industry is grappling with an ageing merchant fleet, and even the current surge in shipbuilding may fall short of replacing older vessels in time, according to Xclusive Shipbrokers’ latest weekly report. The report highlights a significant rebound in shipbuilding over the past two years, primarily fueled by a recovery in freight rates post-Covid-19. “This surge has led to a notable increase in the orderbook-to-fleet ratios across various
Emirates Expands Fleet with Order for Five More Boeing 777 Freighters
Emirates has announced a firm order for five additional Boeing 777 freighters, scheduled for delivery between 2025 and 2026. This latest order brings the airline’s pending deliveries of the Boeing 777F to a total of 14, set to arrive by the end of 2026. To further bolster its cargo capacity, Emirates has also extended a multi-year lease with Dubai Aerospace Enterprise for four Boeing 777 freighters currently in its fleet.
Maersk Defies Russian Threats with New Weekly Container Service to Ukraine
Maersk has launched a new weekly container service to Ukraine, pushing forward amid escalating Russian attacks on merchant ships and Ukrainian ports. According to the Ukrainian news portal Dumskaya, the first vessel under this service departed from Port Said, Egypt, on Thursday and is scheduled to reach Chornomorsk on October 22. Maersk’s Ukraine office issued a statement to clients, emphasizing that the new service “marks a significant step forward in
MSC Acquires Majority Stake in Brazilian Port Operator Wilson Sons
Mediterranean Shipping Company’s maritime services subsidiary, SAS Shipping Agencies Services, has agreed to acquire a 56.47% controlling stake in Brazilian port operator Wilson Sons for 4.3 billion Brazilian real (R13.44 billion). In a regulatory filing, Wilson Sons confirmed it received notification from its controlling shareholder, OW Overseas Investments, regarding the execution of a share purchase agreement. This agreement involves OW Overseas (the seller) and SAS Shipping Agencies Services Sàrl (the
Four Crew Members Missing After Russian Cargo Ship Capsizes Near Sakhalin Island
Four crew members remain missing after the small general cargo ship Grigory Lovtsov capsized near Korsakov port at the southern end of Sakhalin Island, in Russia’s Far East. Russian authorities reported that three crew members were rescued, though all are suffering from hypothermia. The Grigory Lovtsov, a 41-meter, 200-dwt vessel that has operated in Russia since 2010, was carrying a crew of seven. Sakhalin Oblast Governor Valery Limarenko stated on
Tragic Gangway Collapse on Sapelo Island Claims Seven Lives
Seven people were killed and three others seriously injured when an aluminum gangway collapsed at a ferry pier on Sapelo Island, Georgia, over the weekend. All the victims were senior citizens who had traveled to the island for a festival celebrating the culture of the Gullah Geechee, an African American ethnic group from the coastal Southeast. They were returning to the ferry landing when the gangway, connecting the shore to
Galp Energia Prepares for Major Drilling Operations Off Namibia with Santorini Drillship
A drillship formerly active in the Baleine offshore exploration area off Côte d’Ivoire has arrived off the coast of Namibia, where it is set to conduct single-well drilling for Portuguese energy multinational Galp Energia. The Santorini, owned by Italian oilfield services company Saipem SpA, is part of a significant investment totaling N$2.1 billion by Galp, following exploratory drilling in January 2023. Currently stationed off Long Beach between Walvis Bay and
Brazil’s Port Privatization Strategy Expands with Auction of 35 Terminals
Brazil has announced plans to auction off 35 terminals as part of its ongoing privatization efforts, marking a key step in the country’s strategy to modernize its port infrastructure. This announcement follows the recent acquisition by MSC subsidiary SAS Shipping Agencies Services, which secured a 56.47% stake in port operator Wilson Sons for 4.3 billion Brazilian reais. The government’s initiative aims to enhance efficiency and competitiveness in global trade by